State Street Corp Purchases 6,410 Shares of Reservoir Media, Inc. (NASDAQ:RSVR)

State Street Corp boosted its holdings in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 374,862 shares of the company’s stock after purchasing an additional 6,410 shares during the quarter. State Street Corp’s holdings in Reservoir Media were worth $3,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RSVR. The Manufacturers Life Insurance Company bought a new position in Reservoir Media during the second quarter valued at about $81,000. E&G Advisors LP acquired a new stake in shares of Reservoir Media during the 3rd quarter worth approximately $246,000. Inspire Investing LLC bought a new stake in shares of Reservoir Media during the second quarter valued at approximately $367,000. Charles Schwab Investment Management Inc. raised its stake in shares of Reservoir Media by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,951 shares of the company’s stock valued at $519,000 after purchasing an additional 4,087 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Reservoir Media by 113.2% in the third quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock worth $551,000 after purchasing an additional 36,068 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.

Reservoir Media Stock Performance

NASDAQ:RSVR opened at $9.05 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $8.98 and a 200 day moving average price of $8.14. The firm has a market capitalization of $590.27 million, a PE ratio of -452.27, a price-to-earnings-growth ratio of 12.93 and a beta of 0.93. Reservoir Media, Inc. has a 12-month low of $5.95 and a 12-month high of $9.83.

Analysts Set New Price Targets

Separately, B. Riley boosted their price target on shares of Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a report on Thursday, October 31st.

Reservoir Media Company Profile

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.